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week ending November 15th, 2019
As employees plan for retirement, a key to being ready is to accumulate as much savings as possible. With the new IRS limits, plan participants are able next year to put more into their retirement plans. There seems to be a link between the investment menu defined contribution (DC) plan sponsors offer participants and how much the participants save. Helping participants understand the tax benefits of saving in a retirement plan would encourage plan participation, and explaining the negative consequences of taking money out of their savings may help stop leakage. Research shows that employees are also looking to invest their assets in health savings accounts (HSAs) to accumulate more for retirement health care expenses. And, actuary groups say a better understanding of longevity can help employees plan for investment strategies in retirement and health care expenses, among other things. Enjoy this edition of PLANSPONSOR Weekend!
Editor's Choice
Investing
The Role DC Plan Investment Menus Play in Participant Savings
Do managed accounts or larger investment menus encourage participants to add more to their DC plans?
Administration
Helping Participants Understand Tax Considerations for Retirement Plans
Understanding all the tax implications of qualified retirement plans can be daunting, but there are a few key things participants should know.
Administration
Ways to Combat Pervasive Leakage
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching jobs.
Benefits
HSA Holders Looking to Invest, But What Will They Find?
Although investment menu designs are better, there are still improvements that can be made and items plan sponsors should evaluate when selecting an HSA provider.
Products
Actuary Groups Update Longevity Calculator
A better understanding of longevity can help employees plan for investment strategies in retirement and health care expenses, among other things.
Popular Reads
2020 Best in Class 401(k) Plans
PLANSPONSOR is pleased to announce the sixth “class” of companies winning the Best in Class 401(k) Plan designation.
Compliance
IRS Announces 2020 Contribution and Benefit Limits
The contribution limit for employees who participate in 401(k), 403(b) and most 457 plans is increased from $19,000 to $19,500.
Administration
Why Nonprofits May Prefer a 403(b) Plan Over a 401(k)
It often comes down to nondiscrimination testing.
Administration
New Models Continue to Be Introduced for 403(b) Plans
K-12 and university 403(b) plan sponsors have turned to multiemployer plan solutions—the latest of which is launching in Indiana.
Compliance
Trump’s 2021 Budget Proposes Increasing Multiemployer PBGC Premiums
The premiums would increase by $26 billion over 10 years.
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